Central banks run today’s world. Money printing madness controls everything. Liquidity-driven markets reflect the power of bankers to do it.
They’re more powerful than standing armies. They can levitate markets. They can enrich themselves at the same time.
They can do it while economies crater. The power of massive liquidity infusions combined with market manipulation generates huge profits.
What can’t go on forever, won’t. What’s going on now defies reason. Disconnect barely explains it. US equity markets hit record highs. So did Germany’s DAX. Japan’s Nikkei reached a five and a half year high.
One recent headline read “Central banks pop champagne corks as stock markets soar.” Another said “Which European Market Will Hit a Record High Next?”
Turkey’s BIST-100 topped 91,000 for the first time. Switzerland’s SMI has a ways to go. It’s headed in the right direction. Sweden’s OMX Stockholm 30 and the OMX Nordic are closer.
London’s FTSE 100 looks poised for a record high. It could do so in weeks. Who said defying gravity’s impossible? Markets are doing it with ease.
Record valuations bear no relation to economic reality. Today’s disconnect is unprecedented. Paul Craig Roberts expects an eventual triple bubble explosion.
On the one hand, he says “rich elites are stealing everything for themselves.” At the s...